Socio-Economic Environment as the Basis for Innovation Economy

Abstract

The authors carried out a correlation analysis of the socio-economic environment factors, which have a decisive influence on the territorial innovative development according to data for the year 2012. The paper discloses socio-economic determinants that provide to reinforce territory’s innovative development. These determinants are higher education development, improving of social and transport infrastructure, growth in small business and trade. The paper also carried out a dynamic analysis according to data for period of 2012 - 2014 in the group of regions (Russian Federation) "Generators of Innovations" and disclosed the positive impact of selected key determinants on the regional innovative development. The results of this research may be used in the government practice of different territories (countries, regions) for decision-making in the field of socio-economic development.

Keywords

• socio-economic environment
• innovative development
• living standards
• regional economy